Lee Davis-migration

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Posts posted by Lee Davis-migration

  1. I just joined, and I am posting my second... mainly because I cannot stand to wait to tell someone! I started collecting paper in 1996, and had the experience of attending the 1997 Fun auction in Orlando where Milton Friedberg sold his fractional collection. Got some great items, that I still have. A few years later, I was in a local (Albuquerque) coin shop, and saw a 1914 $5 red seal for sale for $185. I was new and unknowlegable enough to go home and do some research, but went back the next day and paid the $185, without any bargaining. That note turned out to be a 842a, Dallas note. About 8 known, with the best being 2 at XF. Mine is a very choice uncirculated... maybe a 64? But it has a problem... there is a small paper clip rust spot across the top border... so PCGS graded it as a 58 AU, as an "apparent" grade. They did not even list it as an AU in the registry. The note is quite a gem uncirculated...and so, my question... Is this a resonable grading? I don't intend to sell it (at least for now), and so I am not out to profit in any way (yeah, sure!). I would just like to know where this note stands in the grand scheme of things. Does anyone have some thoughts? I figure this is the start of a collection of red seal $5's, for this seems to be the toughest note. Advice is certainly appreciated. Lee Davis

  2. In 1862, off the Bahamas, the Blockade runner Bermuda was captured by the USS Mercidita, and in the cargo was a shipment of paper from Britain made from seaweed pulp, and destined to be printed as confederate notes. It was watermarked CSA, and went to the US Government in Philadelphia. When paper was in short supply, the 2nd and 3rd issue Fractional specimen notes were printed on this paper. That is why you will often see a specimen note of Fractional Currency (especially the wide margins) with the distinctive CSA, or part if it. I happened to buy a half sheet of the unused paper from the Milton Friedberg auction in Orlando in 1997... it is quite a piece. Does anyone else have a sheet or half sheet? I know they are scarce... just wondering how scarce. I am thinking of framing it... what could be more of a conversation piece than a blank sheet of paper? Lee Davis